Tag Archives: Nasdaq Biotechnology Index
The Late Show
It’s the battle of the sectors between profit taking in healthcare and buying in the oil patch. There is no up in Nasdaq without healthcare. With IBB running out all the longs under it’s 200DMA @ 347, I only have … Continue reading
Midday Missive
Time for all Longs to assess their holdings. Biotech has been a counterweight to Oil & related Energy name weakness all A.M. EUR/JPY held a big technical level, led by Euro strength. VIX…13.80 is 200 DMA resistance. Look to match … Continue reading
Midday Missive
Biotech has been driving the train all morning with longer term money trying to pick up bargains in the Oil patch. The Greenback is bid giving investors a reason to put those dollars to work in our Equity market. DIG…looks … Continue reading
IBB
IBB…169.20 is where the rubber meets the road in this Index. There are resting stops below, which could lead to a test of 165.60. This has been the strongest Index over the past few years. It shows what technicians refer … Continue reading
IBB_-_iShares_NASDAQ_Biotechnology_Index_Fd_Daily.gif
Caution is advised…this is the second time this month we’ve seen this pattern only to reverse back higher.
IBB_-_iShares_NASDAQ_Biotechnology_Index_Fd_Daily.gif…Pattern Alert!
A close below 160.13 puts in an ORL day. The IBB has led the entire rally since last July. This level is generally a Bear Trap the first time down. Meaning, they run the short term stops at the level … Continue reading